LNG

BP of the UK has started an initial public offering of shares for a US spin-off, BP Midstream Partners, to raise almost $900 million by selling 42 million shares in its Houston-based pipeline assets, including key natural gas transportation systems in the area.

Countering the Panama Canal expansion operational from early 2015, the Egyptian government is evaluating plans to spend $4 billion on building a new widened shipping lane besides the Suez Canal. The move to a bi-directional lane would facilitate the transit of more Q-Flex LNG vessels.